US Fears Mount Over Chinese Move on Unocal

More than 40 US Congressmen are demanding an investigation of the Chinese bid for the American oil company Unocal – a move which has crystallised every fear that China has become a major threat to the geostrategic dominance of the US.

In a letter to John Snow, the Treasury Secretary, the Congressmen – both Democrats and Republicans – claim that the bid, if successful, could endanger US national security by cutting into the country’s future energy supplies.

US companies are already competing with China for scarce energy resources, the letter warned. “We know you understand … the critical need to secure the availability of energy resources for American consumers,” it added.
The Independent